Tuesday, October 29, 2013

The Business Times: $4.85 billion of real estate inventories

The Business Times: $4.85 billion of real estate inventories

Link to Vietnam Business News

$4.85 billion of real estate inventories

Posted: 28 Oct 2013 10:04 PM PDT

 Inventories at the end of September fell more than 20 percent compared to the first half of the year; the estate market has had positive signs, according to the Ministry of Construction. In a report to the National Assembly, the Construction Ministry said the estate market in general and the housing market in particular has [...]

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Vietnam’s forex reserves estimated at $32bln

Posted: 28 Oct 2013 10:03 PM PDT

Vietnam's current forex reserves is estimated at $32 billion, or 12 weeks of imports, reads the report by ANZ based on the Government's report at the recent National Assembly. Vietnam's current forex reserves is estimated at $32 billion, or 12 weeks of imports, reads the report by ANZ based on the Government's report at the [...]

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Associations make complaints about investment environment

Posted: 28 Oct 2013 08:14 PM PDT

 Foreign businesses' associations, representing foreign invested enterprises in Vietnam have warned that their member businesses may leave Vietnam, while domestic associations complain that their proposals have been ignored. The German Consul General in HCM City – Dr. Hans-Dieter Stell confirmed that he has heard the EU Ambassador talking about the difficulties European businesses, especially the [...]

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Vietnam Airlines signs a big contract with GE

Posted: 28 Oct 2013 08:13 PM PDT

A contract to buy 40 engines for the Boeing 787 Dreamliner crew was signed between Vietnam Airlines and General Electrics in the evening of October 28. In a statement released several hours after the event, Vietnam Airlines said that these are GEnx jet engines for its Boeing 787 Dreamliners, scheduled for delivery in 2015. The [...]

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Deputy PM: Gov’t wants to sell unprofitable SOEs instantly

Posted: 28 Oct 2013 08:10 PM PDT

What should the State do – selling unprofitable state owned enterprises (SOEs) which cannot bring profits any more, or selling profitable SOEs which keep laying golden eggs? Deputy Prime Minister Vu Van Ninh, when asked about the government's viewpoint on dealing with SOEs, said the government wants to sell unprofitable SOEs instantly, while it is [...]

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Oct 29: Vietnam central bank keeps dollar exchange at vnd21,036

Posted: 28 Oct 2013 08:09 PM PDT

Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Tuesday, unchanged for 4 months. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,246. Today, commercial banks offered dollar prices at VND21,060-21,075/dollar  for [...]

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Only Vietnamese can deposit foreign currencies

Posted: 28 Oct 2013 08:07 PM PDT

Vietnam plans to set up a new regulation under which foreign residents, not Vietnamese citizens, cannot deposit foreign currencies at the banks in Vietnam. The State Bank of Vietnam, which is drafting the decree that guides the implementation of the Foreign Exchange Ordinance and the Amended Ordinance, believes that it is now necessary to keep [...]

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App. JPY 30 bln waiting to buy debts: Ministry of finance

Posted: 28 Oct 2013 08:05 PM PDT

Currently, JICA is working with Ministry of Finance of State Bank of Vietnam to have debt trading regime with market prices. Ministry of Finance said there was approximately JPY 30 bln (USD 300 mln) waiting to buy debts of Vietnam's SOEs. Mr. Dang Quyet Tien, deputy head of Corporate Finance Department (MOF) shared more details: [...]

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Not time to free gold market yet: Deputy governor

Posted: 28 Oct 2013 08:03 PM PDT

It is not right time yet to free gold market, the State Bank of Vietnam (SBV), the country's central bank, Deputy Governor Dao Minh Tu told local media at a press meeting on October 26. Mr. Tu said the current gold regulation regime was researched for many years by functional bodies as instructed by the [...]

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Businesses get credit debt extended to 36 months

Posted: 28 Oct 2013 08:00 PM PDT

The Government has decided to extend the maximum lending period to 36 months, applicable to export credits provided to processed coffee and cashew nut on the condition that indebted enterprises suffered losses in 2011 and 2012 and failed to pay debts as per contract terms signed with the Vietnam Development Bank from October 18, 2013. [...]

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